New Delhi: Ratan Tata-backed B2B commerce company Moglix has joined hands with Uno Minda group, facilitating the latter with its vendor portal solution for seamless online procurement process to increase operational efficiency.

Uno Minda Group adopted the vendor portal solution that Moglix developed on SAP's SCP environment and seamlessly connected the portal to SAP using HCI connectors.

The adoption of the solution has helped the company in transitioning from offline dealings to online procurement saving manual efforts, lost of time and operational costs.

"With the launch of the vendor portal, we have addressed the need of the hour following the implementation of GST in India," said Rahul Garg, Founder and CEO of Moglix, adding that this adoption has not only benefited the UNO Minda group, but also the entire ecosystem they operate in. , said that this adoption has not only benefited the Minda group, but also the entire ecosystem they operate in.

Uno Minda Group has over 30 manufacturing plants and more 2000 BOM suppliers across India and the interaction between its vendors and individual buyers was completely unorganized and offline earlier, leading to excessive manual effort resulting in loss of time and information in transition, the company said.

Challenges included mismatch in ledgers leading to delayed reconciliations and extra human effort by finance department and vendor's team as also mismatching of invoices and inefficient means of supplier performance.

Parna Ghosh, Group Chief Information Officer, Uno Minda Group said, "Moglix has added to the technological progression of our company via its vendor portal solution. The digitalization of the interaction between our users and suppliers haveincreased the productivity of the company and the overall business."

The adoption of Moglix's vendor portal solution was broadly to deal with challenges such as blocking of input tax credit (ITC) in the system post GST regime due to mismatched ledger.

"ITC is typically 18 per cent to 28 per cent of the working capital and with GST coming in, this was the perfect time for them (Uno Minda) to streamline and digitize the entire procurement interaction with their suppliers, the company said.

Founded in 2015, Moglix is a B2B commerce marketplace that specializes in B2B procurement of industrial products such as MRO, fasteners, electrical, hardware, pneumatics, safety items and more.

Moglix till date has raised approximately USD 18 million from IFC, Accel Partners, Jungle Ventures, Venture Highway, SeedPlus and Rocketship.vc. The company is backed by Ratan Tata.